Reinsurance- A resurging segment of Spanish Insurance Industry: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Any insurance company takes risk when they insure a property or a person. Reinsurance allows the insurance company to reduce this risk by diversification. In 20th century, Spanish insurance companies used reinsurance in an unregulated market. However, after 1940, the government regulated the market, which created several challenges for the insurance companies. Nevertheless, the regulations open-up many new opportunities also. The financial crisis of 2008 had its impact on the Spanish insurance sector too, and the industry has seen a slow growth since then. According to the market research report “Reinsurance in Spain, Key Trends and Opportunities to 2020“, with the revival of economy in recent times, the insurance industry has also shown some signs of increased growth. There are currently around 10 professional reinsurance firms in Spain. With the present shape of economy, this is not expected to change and the number might not change in near future. Although the initial capital required for entering the market is not large, but excess competition and slow economic growth rate does not prove to be a lucrative deal for new entrants. Reinsurance business thrives on the primary business of insurance. Unless the insurance industry of Spain show a significant growth, reinsurance will not be able to thrive much and growth might be slow. Direct insurance premiums have fallen in past few years because of high unemployment rate and low family income. In addition, because of the economic slow-down, the business is also slow which has further slowed down the insurance premium flow. This has resulted in fallen reinsurance premiums. To simulate the growth, Spanish insurance and reinsurance firms have started to diversify and expand their operations. They are going global to counter the effect of slow Spanish economy. Latin America is one of the favourite targets for expanding Spanish firms because of similarities in language and culture. Mapfre, Catalana, CESCE, Santa Lucia, Llod are few of the firms which are working in this sector and are internationalising their business to simulate the growth. With the passage of Solvency II directive in 2016, companies are now forced to update their balance sheets to mitigate risk. This will be very beneficial for the reinsurance firms as they help in proper risk management, which reduced risks to significant levels. The reinsurance market in Spain was growing rapidly until the economic crisis. However, past few years have not been very positive for the sector. With new government regulations, healing economy and increase in confidence among the Spanish population might provide the required boost to this sector and an improved growth can be seen in near future. For further reading click on the link below: https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/reinsurance-spain/106752-93.html Related reports: Reinsurance in Hong Kong, Key Trends and Opportunities to 2020 Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2020 Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications ankur [@] kenresearch.com +91-9015378249 www.kenresearch.com Tags: Reinsurance in Spain Market, Reinsurance in Spain Market Future Outlook, Reinsurance in Spain Market Research Report, Reinsurance in Spain Market Segmentation, Reinsurance in Spain Market Size, Spain Insurance industry Research, Spain Insurance market competition, Spain Reinsurance Industry